"We expect the JPY to come under significant and sustained
pressure throughout 2013 as a result of policy changes
domestically and internationally," they write. "In Japan, we
believe political pressure will lead to a major shift toward
substantially more expansionary BoJ policies, which will weigh
down JPY in 2013. Indeed,
there is evidence that this is already starting to unfold
following the latest easing measures announced by the BoJ."